United Asset Strategies Inc. Increases Holdings in Sociedad Química y Minera de Chile S.A. (NYSE:SQM)

United Asset Strategies Inc. raised its position in Sociedad Química y Minera de Chile S.A. (NYSE:SQM) by 31.5% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 8,912 shares of the basic materials company’s stock after purchasing an additional 2,136 shares during the period. United Asset Strategies Inc.’s holdings in Sociedad Química y Minera de Chile were worth $537,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in SQM. Fortis Capital Advisors LLC acquired a new stake in shares of Sociedad Química y Minera de Chile in the fourth quarter valued at approximately $26,000. First Capital Advisors Group LLC. purchased a new stake in Sociedad Química y Minera de Chile in the 2nd quarter worth approximately $26,000. Penserra Capital Management LLC acquired a new position in Sociedad Química y Minera de Chile in the 1st quarter valued at $47,000. Money Concepts Capital Corp purchased a new position in shares of Sociedad Química y Minera de Chile during the 4th quarter worth $52,000. Finally, Sunbelt Securities Inc. acquired a new stake in shares of Sociedad Química y Minera de Chile during the first quarter worth $55,000. Hedge funds and other institutional investors own 12.41% of the company’s stock.

Sociedad Química y Minera de Chile Stock Performance

Sociedad Química y Minera de Chile stock opened at $46.02 on Thursday. Sociedad Química y Minera de Chile S.A. has a 12-month low of $38.50 and a 12-month high of $83.67. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.49 and a quick ratio of 1.74. The company has a market capitalization of $13.15 billion, a price-to-earnings ratio of 6.53 and a beta of 1.07. The firm’s fifty day moving average price is $46.76 and its 200 day moving average price is $49.95.

Sociedad Química y Minera de Chile (NYSE:SQM) last issued its quarterly earnings results on Wednesday, February 28th. The basic materials company reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.51). Sociedad Química y Minera de Chile had a net margin of 26.95% and a return on equity of 37.86%. The business had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.36 billion. During the same period in the prior year, the company posted $4.03 EPS. On average, research analysts forecast that Sociedad Química y Minera de Chile S.A. will post 4.08 EPS for the current fiscal year.

Wall Street Analyst Weigh In

SQM has been the topic of several recent analyst reports. Scotiabank reduced their target price on Sociedad Química y Minera de Chile from $80.00 to $70.00 and set a “sector outperform” rating on the stock in a research report on Monday, March 4th. Jefferies Financial Group raised shares of Sociedad Química y Minera de Chile from a “hold” rating to a “buy” rating and upped their price target for the stock from $52.00 to $62.80 in a research report on Monday, April 8th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Sociedad Química y Minera de Chile from $52.00 to $48.00 and set a “hold” rating on the stock in a report on Friday, March 1st. BMO Capital Markets dropped their price objective on Sociedad Química y Minera de Chile from $75.00 to $70.00 and set an “outperform” rating for the company in a report on Friday, March 1st. Finally, TheStreet cut Sociedad Química y Minera de Chile from a “b-” rating to a “c” rating in a report on Friday, February 2nd. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Sociedad Química y Minera de Chile currently has an average rating of “Hold” and an average price target of $66.58.

About Sociedad Química y Minera de Chile

Sociedad Química y Minera de Chile SA produces and distributes specialty plant nutrients, iodine derivatives, lithium derivatives, potassium chloride and sulfate, industrial chemicals, and other products and services. The company offers specialty plant nutrients, including potassium nitrate, sodium nitrate, sodium potassium nitrate, specialty blends, and other specialty fertilizers.